Just Starting....

I need help…
What is the first thing you did to get started in R.E. investing? Did you buy rental property? Flip houses? Form an LLC? Get an attorney?

Any help would be great. I’ve started a blog to journal my struggles to be wealthy. I hope it will one day help someone going through the same things I’m going through.

Howdy Summerhays:

I bought a rent house for $37,500 with zero down on a contract for deed. For the down I had to paint it inside and out. I was so stupid I fixed it up like I would want to live there. I put wallpaper in the kitchen and bath and grasscloth in the living room. Six months later I was scraping it all off and painting the walls again. I did not know there were so many crayon colors.

Up and down from there.

Starting over again doing rehabs with partners in Austin, Waco, Dallas, Houston, San Antonio, and Corpus. I am finally living my dream and you can too. It is the greatest show on earth except the circus.

You can do it too if I can. Read my success story “We Had to Build this House” for some more inspiration

Hi Summerhays,
I’ve been there where I have spent countless hours doing research, checking the classified ads for no money down deals (never had any luck with that deal here…too small town), meeting with all kinds of realtors and asking for real estate listings. But overall, consider everything you get as great learning experience. Dont get too bogged down to what kind of business entity you’re going to consider yourself. Sole proprietor is good enough for a start. What you want to concentrate on is to know your market. You should be so well versed with the neighborhood that any house listed in that area, you should know if its a good deal or not. You’ll be also an expert in figuring out estimated cost repair for any work you see in a house. That’s how you could basically do your quick evaluation if a house you’re prospecting is really a bargain or not. But getting your feet wet, by meeting realtors, fsbo and making an offer should be just a routine for you. Without any offer, how you could start making any good deals right?..Goodlluck!